OIL PRICE RISES ABOVE NIGERIA’S S38 OIL BENCHMARK

 
-          The global benchmark, brent crude, on Friday rose above Nigeria’s proposed benchmark oil price of $38 per barrel for this year’s budget.

-          Brent had since mid-December 2015 continued to trade below the $38 per barrel mark.

-          In January, it fell below $30 per barrel, its lowest in more than a decade.

-          Brent, against which Nigeria’s oil is priced, extended the gains recorded in recent days on Friday, rising by $1.46 to $38.53 per barrel, a level last seen in December.
CULLED FROM THE RADAR